Introducing Robinhood Ventures Fund II (RVII)

Introducing Robinhood Ventures Fund II (RVII) --> Accessibility: Skip TopNav Introducing Robinhood Ventures Fund II (RVII) Starting today, customers can request IPO shares of Robinhood Ventures Fund II (RVII) at an expected price of $25 per share. RVII is expected to IPO on August 13 on the New York Stock Exchange August 03, 2026 12:48 ET | Source: Robinhood Markets, Inc. Robinhood Markets, Inc. MENLO PARK, Calif., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Historically, retail investors have been locked out of private companies in their earliest stages, which can be among the biggest wealth creation opportunities available. Today, Robinhood sets out to change that. Robinhood Ventures Fund II (RVII), the second fund from Robinhood Ventures, is expected to IPO on August 13 on the New York Stock Exchange (NYSE) under the symbol RVII at an expected price of $25 per share. Robinhood Financial customers can request IPO shares of RVII through Robinhood, and investment advisers on the TradePMR Fusion platform may also seek an allocation for their clients. The window to request IPO shares is expected to close on August 12. Introducing RVII RVII is a business development company (“BDC”), a type of closed-end fund, that provides retail investors exposure to a diversified portfolio of private companies in their earliest stages. A closed-end fund is a professionally managed pool of assets—in this case, investments in private companies—that issues a fixed number of shares and trades on an exchange like a stock. Today, RVII includes 80 private companies, with others expected to be added over time. RVII’s goal is to make seed investments in promising companies across sectors that demonstrate significant growth potential, with a focus on companies that are current or previous participants in the Y Combinator startup accelerator program or companies with a founder or co-founder that has participated in the Y Combinator startup accelerator program. Since 2005, Y Combinator has funded over 5,000 companies with a combined value of over $1.3 trillion, including 100 "unicorns" with valuations over $1 billion.* "The next generation of promising startups is being built today," said Sarah Pinto, Head of Robinhood Ventures. "With Robinhood Ventures Fund II, retail investors no longer have to wait until a company's IPO to be part of an early growth journey." “Y Combinator has one of the strongest track records in venture, and having participated in the program myself as both a founder and a visiting partner, I firmly believe its level of access to promising startups is extraordinary," said Rich Aberman, Robinhood Ventures Fund II Portfolio Manager. "As Robinhood Ventures scales, our mission is for it to become the norm that retail is represented in your seed or Series A cap table. This is a great first step in making that dream a reality." RVII is meant to be accessible to all investors, with no accreditation requirements, no investment minimums, a competitive management fee, and daily liquidity as a publicly traded fund on the NYSE. RVII pays Robinhood Ventures, the investment adviser, a management fee consisting of two components. A base management fee that is calculated and payable quarterly at an annual rate of 2.00% of net assets, as well as an incentive fee that is determined and payable annually, and is equal to 20% of the realized capital gains from inception through the end of the fiscal year, less realized capital losses, unrealized capital depreciation, and the aggregate amount of any previously paid incentive fees paid for prior periods. Why Now? The U.S. venture capital market has become a massive and fast-growing asset class, with $320 billion deployed in 2025 and $1.38 trillion in total assets under management.** However, companies are staying private much longer than they used to, with the median time to IPO growing from 5 years in 1999 to 14 years in 2024,*** meaning much of the foundational growth is happening out of reach of the investing public. At the end of 2025, there were approximately 859 VC-backed private companies valued at $1 billion or more, representing approximately $4.34 trillion in value. Whether that value is realized through acquisitions, public offerings, or secondary transactions, most of the returns will flow to those who were able to invest early, when the companies were private.**** Many startups don’t make it, but the ones that do can change the world. The risks may be higher, but so are the potential rewards, and RVII aims to expand access to this crucial and often closed-off part of the market. That same mission now extends to the Robinhood team. With the recent launch of the Robinhood Employee Fund, eligible employees can now invest their own money into a fund providing exposure to Robinhood Ventures funds, including RVII. How to Participate Starting today, self-directed retail investors can learn more about RVII and request IPO shares directly through Robinhood. Following the launch of Advisor IPO